Zentiva Group and Siyiara Enterprises signed a sale and purchase agreement for the acquisition of the Romanian company Solacium together with its subsidiary Be Well Pharma. Solacium is currently part of Dr. Max Group and owned by Siyiara Enterprises together with Trasca Alexandru-Tony.
“Zentiva is pleased to announce the signing of its first acquisition after the separation from Sanofi in the last quarter of 2018. Solacium complements our generic drug business and helps us to develop our OTC division and offer to patients and consumers in Romania,” said Zentiva CEO Nick Haggar.
“After the acquisition of A & D Pharma by Dr. Max, we decided to focus primarily on three pillars of our business in Romania – pharmaceutical, wholesale, marketing and sales. Although Solacium is a fast-growing food and OTC grower, we believe that, under the management of a specialized and far-reaching pharmaceutical manufacturer, such as Zentiva, Solacium can better harness its potential and can significantly develop its business, exceeding the current level, “said Leonardo Ferrandino, chairman and CEO of Dr. Max Group.
The transaction remains subject to the approval of several authorities, including, but not limited to, the Romanian Competition Council. The value of the transaction was not made public.